Information for Banks

The MSBA recognizes financial institutions that commit to improving access to justice in Minnesota communities and invites banks to participate in our Prime Partner Program. This program gives financial institutions the opportunity to be recognized for significantly benefiting their communities.
The Minnesota IOLTA rules require attorneys to place IOLTA accounts at financial institutions that pay interest rates comparable to other similarly situated accounts. Prime Partner Institutions are those that go above and beyond this requirement to support the IOLTA program in its mission to ensure that low-income Minnesotans have access to critically needed legal aid. Financial institutions that agree to pay a net interest rate of 0.5% on IOLTA accounts are recognized as members of the Prime Partner Program.